Income Tax
Money from working for pay
What is earned income?
Name 3 of 4 types of property that are taxed
What are land, buildings, motor vehicles, and intangible property?
Sales taxes is one example of a __________ tax.
(Progressive, regressive or flat)
What is regressive
The month that taxes have to be paid
What is April?
The most important source of revenue for ______ governments is the property tax.
What is county or local
The letters IRS stand for this
What is Internal Revenue Service?
States have the option to charge this tax to employed citizens.
What is state income tax?
List 3 of 5 things property tax supports
What are local education, police/fire protection, local governments, free medical services, and local infrastructure?
Sales tax is an important source of local or federal government revenue.
What is local government revenue
What is "sin tax"
Government levy on employed taxpayers
What is income tax?
True or false? Property taxes are the same in all parts of a state.
What is false
The Indiana sales tax percentage.
What is 7% ?
Payroll taxes pay for this retirement benefit.
What is Social security?
Amount of Federal revenue that comes from income taxes.
What is over one-half?
Charitable organizations that local governments do not usually levy property taxes on
What are nonprofit organizations
True or false? Each state sets its own sale tax rate
The federal tax system used in the United States.
What is a progressive tax system?